Determinants of business cycle comovement
Subtitle: a robust analysis
By: Marianne Baxter, Michael Kouparitsas.
Contributors: Kouparitsas, Michael A.
Series: Working paper series ;; WP-2004-14; Working paper series (Federal Reserve Bank of Chicago. Research Dept. : Online) ;; WP-2004-14.
Publisher: Federal Reserve Bank of Chicago
Published: 2004
Place of publication: [Chicago, Ill.]
Language: eng
Format: Electronic resource
Description: "This paper investigates the determinants of business cycle comovement between countries.  Our dataset includes over 100 countries, both developed and developing.  We search for variables that are 'robust' in explaining comovement, using the approach of Leamer (1983).  Variables considered are (i) bilateral trade between countries; (ii) total trade in each country; (iii) sectoral structure; (iv) similarity in export and import baskets; (v) factor endowments; and (vi) gravity variables.  We find that bilateral trade is robust.  However, two variables that the literature has argued are important for business cycles' industrial structure and currency unions' are found not to be robust"--Federal Reserve Bank of Chicago web site.
Notes: Also available in print.
Includes bibliographical references.
Title from PDF file as viewed on 10/5/2004.
System requirements: Adobe Acrobat Reader.
Mode of access: World Wide Web.